OANDA's 15 pip cable spread

Quote from rhymeswithorang:

yeah there is, you will never, repeat never, be succesful starting out with 5K.
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and you're 100%, I repeat 100%, certain of that are you? Even if you were to be shown statements showing otherwise? OR wodl you simply say that they've been doctored.

I'll be the first to admit that spot fx isn't the product of choice for somone starting out trading with only 5k as capital and it's probably wise to advise against it but you'll have a tough time against the marketing from all the big shops, but to say that you can't be succesful from starting out at 5k is just rubbish
 
Put it this way, I think 70 to 80% of futures accounts are losers, I bet the spot FX accounts have a higher losing rate. Of course, there is the exception, but I doubt they hang onto that money long.
 
ya think turning 5K into a million or half a million or even 100K is a likely scenario? Honestly, what do you think the odds are, what percentage of novice traders will be able to survive? Just curious.
 
Quote from rhymeswithorang:

Put it this way, I think 70 to 80% of futures accounts are losers, I bet the spot FX accounts have a higher losing rate. Of course, there is the exception, but I doubt they hang onto that money long.
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Firstly I'm not saying that majority of spot fx traders are more succesful than futures traders. I do however am in a good position to state that the majority of futures traders are not particularly succesful and end up simply providing liquidity. Most ppl I see on this thread appear to be too close minded and don't realise that when it comes to making money in trading, there is more than just buying low and selling high. Indirectly, yes, that is what's is going to have to happen for you to make money but it's the way in which you approach it and the ability top adapt to a constantly changing market that helps you achieve high profitability and long term growth. As for turning 5k into 100k? OVer the course of 24 months, if you took a sample from the total subset of retail traders, yes you'll have the odd one or two, and guaranteed they'll be trading something that most retial traders wouldn't comprehend or tbh don't have the mental capacity to implement. IF you really want proof you'll have to continue this via pm .... noone is going to gain anything from me posting what would undoublty be considered outrageous claims and doctored statements.
 
Quote from sccz97:

I'm afraid I'll have to disagree and can provide tick data for you. There are plenty of reasons to trade either futures via exchange and spot through a bucketshop. Of course it depends on your trading style and strategy but why ppl can't comprehend the benefits of trading with both is beyond me
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Maybe you have bad data? I don't really trade BP much, but I do keep my eye on it, along with SF. My main interest is EC.

Why people can't understand the difference between trading:

Futures,
Spot,
and a bucketshop

is also beyond me! Please can you tell me the benefits of trading at a bucketshop, because I am totally unaware of any. I understand trading at a real marketplace like EBS, or Hotspot may have some, but bucketshops, and people who think they are trading spot at a bucketshop (like o&a) is totally over my head.

I mean, how can ANYONE hope to be successful if they don't understand what they are trading or the mechanics of what they are trading? A good example is these people who think they are trading spot (from their posts) when in fact they are trading at a bucket shop!

I am not saying there are none, just that I am yet to see any. Do enlighten me if you can. Thanks

ST
 
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